Business Need a loan? Here’s why it pays to have a higher credit score Updated : October 23, 2018 01:14 PM IST A credit score is among the most objective tools used by banks to ascertain a customer’s credit risk. This three-digit credit score is indicative of the probability of an individual defaulting over a certain period of time. Ranging from 300 to 900, a higher score depicts a lower probability of default. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.